Thursday 22 February 2018

Will Warren Buffett announce Berkshire CEO on Saturday in his letter?

Warren Buffett-led Berkshire Hathaway's stock portfolio was valued at more than $135 billion at the end of June

Warren Buffett’s annual letter to Berkshire Hathaway Inc. shareholders is coming Saturday, and it may bring more clues about the 87-year-old billionaire’s succession plans at his conglomerate.
In addition to providing an update on the company he’s been building for more than five decades, Buffett is likely to pack this year’s installment with financial wisdom and optimism about the US economy, plus the occasional risque joke.

Themes Buffett may address, along with the company’s future leadership, include the recent US tax overhaul, underwriting challenges affecting the insurance business, and the widely watched health initiative teaming Berkshire with JPMorgan Chase & Co. and Amazon.com Inc. Here is a quick look:
Abel and Jain
In January, Buffett promoted two longtime executives -- Ajit Jain and Greg Abel -- to vice chairmen overseeing swaths of Berkshire’s business. Jain, 66, was put in charge of insurance operations, while Abel, 55, is responsible for all other subsidiaries. Both were also appointed to the board.

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